Hey Sisi…“How’s the Market?”

Single-family and condominium median prices set new record highs at $1,050,000 and $500,000 respectively. Mainly, the higher prices are being fueled by historically low interest rates coupled with continued scarcity in active listings especially in the Single Family product category. Buyers are continuing to make offers over the original asking price to be competitive in a seller’s market. On average, closed sales prices came in averaging 103% of the asking price for single family homes and 100% of the asking price for condominiums.

While the market remains competitive, there are signs that higher prices, the availability of vaccines and the opening of the economy are beginning to result in increased inventory on the market. As a snapshot of available data, the total number of single-family homes on the market fi nished August at 473 or 19% higher from the low of 399 set in May of 2021. I suspect that if this trend continues, buyers should fi nd more options available and a more balanced market over the traditionally seasonally slower winter sales months.

This month I had the fun opportunity to represent buyers that were interested in the North Shore. I really enjoyed driving there for the inspections and other various times to ensure timely information flow. It was a competitive situation but the key to success was defi nitely communication and follow-up. Let’s talk more Real Estate and how I can help you with my approach to Real Estate.

#SisiSellsbyTheSeaShore

Questions for Sisi Takaki?
Email: sisit@bhhshawaii.com Berkshire Hathaway or go to: sisitakaki-realty.com

The information in this article is based on available data at this moment and is not meant to be representative of anyone’s opinion other than the author at the time of writing.

SISI TAKAKI
REALTOR’S LIC # RB-21987
LUXURY HOMES SPECIALIST
sms. (808) 753-7151
e. sisit@bhhshawaii.com
www.Sisitakaki-realty.com